Which of the following is an example of an investment in human capital?
a. a law student who works as a waiter in the summer
b. on-the-job training received by an apprentice welder
c. payments into a retirement pension plan by a skilled laborer
d. all of the above are correct.
B
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Perfect competition requires that three conditions be satisfied
a. True b. False Indicate whether the statement is true or false
Structural unemployment is:
A. short-term unemployment that is associated with the process of matching workers with jobs. B. the extra unemployment that occurs during periods of recession. C. long-term and chronic unemployment that exists even when the economy is producing at a normal rate. D. the additional unemployment not captured in official statistics resulting from discouraged workers and involuntary part-time workers.